President Bola Ahmed Tinubu has taken decisive actions to address the contentious issue of crude oil shipping back taxes, which has recently led tank owners to avoid operating in the country.
This information was disclosed by the President’s Special Adviser on Revenue, Zacchaeus Adedeji, during a press conference held at the state house on June 19. Adedeji revealed that an agreement had been reached to prevent vessel withdrawals in order to maintain an uninterrupted flow of crude oil products.
Furthermore, he mentioned that a technical committee had been established to tackle the challenges at hand. Emphasizing the committee’s role, Adedeji assured that no vessel would face arrest or detention while the committee works towards reconciling the back taxes.
These proactive measures taken by President Tinubu demonstrate a commitment to resolving the issue, ensuring the smooth operation of crude oil shipping, and preventing disruptions in the country’s oil sector.
The Backstory
On June 14, Nairametrics reported that some oil tanker owners were avoiding Nigeria due to the imposition of backdated taxes by the Federal Inland Revenue Service (FIRS). According to the report, several companies had received substantial tax demands, totaling millions of dollars, leading to a decision by at least two oil tanker owners to steer clear of Nigerian ports.
